(Adds comments on arbitration, this year's production)
ABU DHABI, April 26 The United Arab Emirates'
Dana Gas has not been able to reach an acceptable deal
with Iran on natural gas imports into the UAE, and an
arbitration process will continue, chief executive Patrick
Allman-Ward said on Tuesday.
However, Dana and its affiliate Crescent Petroleum are still
open to further discussions with Iran, which also wants to see
the dispute resolved, Allman-Ward told reporters.
National Iranian Oil Co and Crescent signed a 25-year
contract in 2001 for Iran to deliver gas to the UAE, with the
price linked to oil. But deliveries were suspended as oil prices
rose and some officials and politicians in Iran called for a
revision to the gas pricing formula.
Allman-Ward said an arbitration tribunal in The Hague would
hold another hearing on damages claimed by Dana in September.
Asked if Dana might simply pull out of the Iran deal, he
replied: "I'm a businessman - if someone made an offer for my
assets or for the contract we have in Iran, I'd consider."
Last year, Dana's production of gas and other hydrocarbons
was the equivalent of 63,900 barrels of oil per day. On Tuesday,
Allman-Ward said total production would be equivalent to over
64,000 bpd as the UAE's Zora gas field came onstream; he
declined to give a more specific figure.
(Reporting by Stanley Carvalho and Maha El Dahan; Writing by